The FGN Savings Bond for June 2017 kicks off today.
Details are as follows;
Purpose
- To deepen the national savings culture.
- To provide opportunity to all citizens irrespective of income level to contribute to National Development.
- To enable all citizens participate in and benefit from the favorable returns available in the capital market.
- To diversify funding sources for the Government.
Benefits
- Interest income is paid quarterly directly into bond holder’s account.
- The Bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity.
- Good for savings towards retirement, marriage, school fees, house projects, etc.
- Safety: backed by the full faith and credit of the Federal Government of Nigeria.
Liquidity
The Bond will be listed on the Nigeria Stock Exchange for trading and provides liquidity for investors who want to exit before maturity.
Subscription Mode
Investors are to subscribe through stockbroking firms trading on the floor of The Nigerian Stock Exchange (NSE) and accredited by the DMO to act as Distribution Agents. (Please visit www.dmo.gov.ng for the list of accredited Stockbroking Firms).
